Major Companies That Are Firing Employees: There hasn’t been the long-expected economic downturn that was expected. However, this does not mean that employees can rest comfortably everywhere.
Thousands of employees at some of the biggest corporations in America are getting the pink slip, despite the fact that the U.S. economy is still doing well.
Major Companies That Are Firing Employees
A list of the companies that will be reducing their workforces in 2024 is provided below.
UPS
UPS reports a decline in shipment volume, both domestically and abroad. CEO Carol Tome described 2023 as “a unique, and quite frankly, difficult and disappointing year” on a corporate earnings call on January 30.
In order to maintain business continuity, UPS intends to let go of 12,000 workers this year.
iRobot
The vacuum manufacturer iRobot has stated that it will not be completing its planned purchase by Amazon, meaning that roughly 350 employees, or about one-third of its staff, would be let go.
The Wall Street Journal said that the European Union will not provide regulatory permission for the relocation, which appears to have caused the agreement to collapse.
Wayfair: Major Companies That Are Firing Employees
Wayfair, an online retailer of home products, plans to reduce payroll by 1,650 employees, or 13% of its total staff worldwide.
The CEO Niraj Shah allegedly “went overboard in hiring during a strong economic period” in an open letter that was uploaded online, according to CNN. Now that revenue has slowed, the corporation is making layoffs.
Citigroup
According to a Bloomberg story, Citigroup intends to eliminate 20,000 positions in an effort to save as much as $2.5 billion.
According to the article, CEO Jane Fraser is trying to boost the company’s underwhelming stock market performance, which includes cutting jobs.
Amazon: Major Companies That Are Firing Employees
Amazon let go of tens of thousands of workers in 2022 and 2023. The layoffs had an impact on a number of departments, including those that dealt with devices, human resources, shops, cloud computing, advertising, and Twitch livestreaming.
Amazon recently announced that hundreds of positions in its Prime Video and Amazon MGM Studios divisions will be eliminated.
According to The Hollywood Reporter, division president Mike Hopkins informed employees via email that the change was made in an attempt to “focus on content and product initiatives that deliver the most impact.”
According to The Hollywood Reporter, Twitch CEO Dan Clancy stated in a memo to employees that Amazon intends to “rightsize our company” by eliminating 500 more positions at the livestreaming site.
Google claimed it was making the adjustments in order to “become more efficient and work better, and to align their resources to their biggest product priorities” in a statement to USA Today.
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Universal Music Group
According to Bloomberg, Universal Music Group intends to fire hundreds of workers in the first quarter of the year, mostly in the recorded music industry.
According to an internal corporate document seen by Reuters, CEO Lucian Grainge stated that the layoffs are a part of a strategy to “further evolve our organisational structure to create efficiencies.”
TechCrunch
TechCrunch has received confirmation from Disney’s Pixar animation division that layoffs will occur in 2024.
According to TechCrunch, inside sources have indicated that 20% of the staff may lose their jobs. However, Pixar claims that the figures will be lower on paper.
As Pixar shifts to producing less material, the layoffs are anticipated to occur later in the year, according to TechCrunch.
Football League of the United States
At least 200 employees have received buyout offers from the NFL, according to CNBC.
According to an NFL document that CNBC was able to get, the league informed its 1,100 workers that the decisions were made because it is “continuously evaluating ways to enhance efficiency and improve outcomes.”
BlackRock: Major Companies That Are Firing Employees
A Bloomberg story states that BlackRock intends to fire 600 workers, or around 3% of its staff.
BlackRock CEO Larry Fink explained the job cuts in a message to staff members, stating that the asset-management sector was “changing faster than at any time since BlackRock’s founding.”
Unity Software
According to Reuters, Unity Software, a producer of video game software, would eliminate 1,800 positions, or 25% of its workforce.
Late last year, the company declared a “reset,” and it now intends to concentrate more on its main line of business.
Xerox: Major Companies That Are Firing Employees
According to CNBC, Xerox plans to eliminate around 15% of its workforce in an effort to implement a new operating model and organisational structure.
According to CNBC, job losses during the first quarter of this year are anticipated to result in the loss of more than 3,000 posts.
